U.S. Office Market Posts Strong Third Quarter Absorption

With the construction pipeline all but shut down and reduced rents prompting many tenants to trade up for better or more efficient space, the U.S. office market absorbed a strong 19 million square feet in the third quarter, according to data presented this week at CoStar Group’s Third-Quarter 2011 Office Review & Outlook.

The leasing activity helped lower the national office vacancy rate slightly to about 13.1% — down nearly a half percentage…
National Commercial Real Estate News From CoStar Group